As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Oracle, a filing with the SEC revealed that on Thursday, Director Charles W. Moorman bought 15,000 shares of ORCL, at a cost of $83.76 each, for a total investment of $1.26M. Investors are able to buy ORCL even cheaper than Moorman did, with the stock trading as low as $80.38 at last check today -- that's 4.0% under Moorman's purchase price. Oracle is trading down about 1.8% on the day Monday. This purchase marks the first one filed by Moorman in the past twelve months.
And at Concentrix, there was insider buying on Friday, by Director Kathryn Hayley who purchased 600 shares for a cost of $171.55 each, for a total investment of $102,930. Concentrix is trading down about 2.8% on the day Monday. Bargain hunters have the opportunity to bag CNXC at a price even lower than Hayley did, with shares changing hands as low as $164.46 at last check today -- that's 4.1% under Hayley's purchase price.
For MarketNewsVideo.com, I'm Sayoko Murase.